Bellway on target to beat expectations
15:53 09 Aug 2002
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Housebuilder Bellway is on target to beat
analysts predictions when it announces its full year results on 15
October.
A trading statement said turnover, pre-tax profits and earnings per
share for the 12 months to July should all set new records. The
target of selling more than 6,000 homes in a year has been reached
for the first time at an average selling price of more than
£120,000, which represents a 5% rise.
"Demand remains strong across the country, giving us an increase in
forward reservations over this time last year," said chief
executive John Watson.
The company, which has moved away from the central London market
into the safer market for family homes, is expecting margins of
around 16% this year.
Analysts have edged up pre-tax profit forecasts from £117m to
£120m.